Law giant Clifford Chance recorded a boost in revenue and profits during the last financial year, with a particularly strong performance in the Asia-Pacific region.
Revenues swelled to £1.36bn, rising seven per cent in the year to April and the highest the group has ever seen. Profit per equity partner saw a more significant jump, rising by 16 per cent to £1.14m.
The Asia-Pacific region, where Clifford Chance now conducts 14 per cent of its business, saw the strongest growth again, with revenue rising nine per cent. In continental Europe and the UK, where two-thirds of the firm is located, revenues rose by eight and six per cent respectively.
The firm’s Asian business was less strong last year, when revenues dropped from the 2012 financial year’s £185m to £175m, but has now recovered to £195m – the group has also entered into an association with Linda Wadyati and Partners in Indonesia, and set up a joint-owned firm in Saudi Arabia
Commenting on the results, Clifford Chance’s Matthew Layton said: “They reflect the definite uptick in transactional markets we saw starting in the US over a year ago, and which has since extended to Europe and Asia Pacific.”